Apple Temporarily Halts Sales in Turkey After Currency Crash

[Maximara]

Bitcoin again…??‍♂️ You are right about one thing. Regulation will bring stabilisation, but the reality is we are all speculating…however I’ll hedge a strong bet on blockchain technology moving us forward.

There are many videos that look into the whole crypto currency and the majority (such as The Truth About Bitcoin and The cryptocurrency industry is a giant scam) say much the same thing - crypto currency is sucker bait. It may last for a while but eventually the music will stop and you won't have a chair to sit on. The number of competing currencies is crazy - they all can't succeed. As for what it all means How Cryptocurrency ACTUALLY works is a good Cliffnotes video.

 

[beanbaguk]

There are many videos that look into the whole crypto currency and the majority (such as The Truth About Bitcoin and The cryptocurrency industry is a giant scam) say much the same thing - crypto currency is sucker bait. It may last for a while but eventually the music will stop and you won't have a chair to sit on. The number of competing currencies is crazy - they all can't succeed. As for what it all means How Cryptocurrency ACTUALLY works is a good Cliffnotes video.

Seriously. Educate yourself or stop being deliberately obtuse. Blockchain technology is DIFFERENT to Bitcoin. Explain to me how blockchain technology is a scam when it's put to good use?

There will be scams on all levels. In the traditional world but also in the blockchain world. Bitcoin is merely the very first iteration of a blockchain product. The pioneer. V1.

It's gone way beyond that now. (And FYI, I don't own any bitcoin).

What is the Difference Between Blockchain And Bitcoin? | Bernard Marr

Did you know that blockchain and Bitcoin aren’t the same thing? […]

bernardmarr.com

 

[chucker23n1]

Seriously. Educate yourself or stop being deliberately stupid.

What is the Difference Between Blockchain And Bitcoin? | Bernard Marr

Did you know that blockchain and Bitcoin aren’t the same thing? […]

bernardmarr.com

If you don't want to talk about Bitcoin, feel free to bring up what you do want to talk about. Blockchain is not a currency.

 

[beanbaguk]

If you don't want to talk about Bitcoin, feel free to bring up what you do want to talk about. Blockchain is not a currency.

Blockchain is what cryptocurrency is built upon. My point was clear from the start.

It's hard to communicate with individuals who have no foresight so I'm done. This is utterly pointless.

 

[chucker23n1]

Blockchain is what cryptocurrency is built upon. My point was clear from the start.

It's hard to communicate with individuals who have no foresight so I'm done. This is utterly pointless.

Your very first post in this thread was "Said the person who has no concept of how they work."

If you have a point at all, you've never stated it.

 

[Maximara]

Your very first post in this thread was "Said the person who has no concept of how they work."

If you have a point at all, you've never stated it.

Exactly. As I said before it sounded like a defender of MLMs one on wikipedia. This is akin to why Turkey is in such bad shape - failure to understand basic fundamentals. One of those fundamentals is a currency based on a limited resource favors the rich because it promotes deflation as demonstrated by the original Great Depression of 1873 to 1896 (renamed Long Depression when the 1929 on hit); prices of goods fell but things like mortgages and loans went up.

Why conservatives spin fairytales about the gold standard shows what limited currencies really do. The hyperinflation specter everybody talks about has never happened to the Constitutional United States (the Articles of Confederation United States by contrast had hyperinflation out the wazoo; and CSA money had much the same problem). Yes, the US has had boughts of high inflation but not hyperinflation and certainly not for the half century Turkey has had its problems.

As I have pointed out before the money the Fed printed was to cover already existing money in savings accounts so people could easily tap it and due to the accounting change that happened what had not been part of M1 suddenly was counted.

So a person with $500 checking and $10,000 savings suddenly got counted as $15,000 ie not the printing of "new" money but printing of currency that already existed.

 

[ponzicoinbro]

Exactly. As I said before it sounded like a defender of MLMs one on wikipedia.

MLM ponzi coin defenders having panic attacks again today. 35-40% down in two weeks. They never learn that this ponzi market belongs to something like 20 mostly anonymous rich people looking for new suckers all the time.

 

[Maximara]

MLM ponzi coin defenders having panic attacks again today. 35-40% down in two weeks. They never learn that this ponzi market belongs to something like 20 mostly anonymous rich people looking for new suckers all the time.

Pretty much. I was dumb enough to try one of those MLMs for two months (I was real desperate for work). One of my fellow employees and I quit on the same day and we watched Ed, Edd, and Eddy at his house throwing all the BS buzz slogans we had been fed as Eddy when through his latest, doomed to fail, get rich quick scheme.

They were so desperate they called me with some crazy scheme to try our pitch in some major city in Texas. I threw back the 'It can work anywhere' nonsense back at them and hug up. About a month I went by and the place they had been was closed.

I feel really sorry for the guy running it as he had drunk the kool-aid and talked about providing for his daughter not realizing that he was living the lyrics of "Cats in the Cradle" (we worked six days a week).

To use a phrase from WoW - crypto and MLMs (along with all job placement companies) need to go stand in the fire.

 

[beanbaguk]

Pretty much. I was dumb enough to try one of those MLMs for two months (I was real desperate for work). One of my fellow employees and I quit on the same day and we watched Ed, Edd, and Eddy at his house throwing all the BS buzz slogans we had been fed as Eddy when through his latest, doomed to fail, get rich quick scheme.

They were so desperate they called me with some crazy scheme to try our pitch in some major city in Texas. I threw back the 'It can work anywhere' nonsense back at them and hug up. About a month I went by and the place they had been was closed.

I feel really sorry for the guy running it as he had drunk the kool-aid and talked about providing for his daughter not realizing that he was living the lyrics of "Cats in the Cradle" (we worked six days a week).

To use a phrase from WoW - crypto and MLMs (along with all job placement companies) need to go stand in the fire.

MLM ponzi coin defenders having panic attacks again today. 35-40% down in two weeks. They never learn that this ponzi market belongs to something like 20 mostly anonymous rich people looking for new suckers all the time.

All the markets collapsed. Not just crypto markets....you are a pair of doughnuts!!!

Actually understand what a Ponzi scheme is and what MLM is before comparing it to blockchain technology. (Both of which exist within regular markets and crypto markets).

Sounds like you both got stung before you didn't have a clue as to what you were doing...(I did too when I first invested in Ripple, but I educated myself significantly, and have benefited from both markets.)

 

[Maximara]

All the markets collapsed. Not just crypto markets....you are a pair of doughnuts!!!

I looked at the Dow over the last month and it had taken a minor bath on Nov 26 and despite a slight dip on Dec 2 (too small to be seen on this graph) it has risen:

Here is Bitcoin (crypto currencies vary as great deal but it can serve as a reasonable benchmark):

As this shows the correlation between the two over the same period is practically nil.